Real life utility question - page 4.

CapGelatik

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

crypto has a use case and it is not a speculation anymore these days. You look like you haven't read the news in a long time. el salvador is a vivid example today. and there are many companies that are starting to accept crypto especially for online. so use case is not a dream for the crypto ecosystem or bitcoin, even though it's still low but it's growing slowly every day.

It may take some time for sure to accept crypto as a real use case,
for now it is only a small number who do that because of course it is hampered by regulations in each country,
We'll see how it develops in the future because this will certainly be interesting

Dr.Osh

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the purpose of crypto being used is as an alternative to means of payment, and to date I see that it has been successful. Even in these difficult times, many people are making donations using crypto, and it's an easy alternative to helping others. to be honest, I've long seen that this has worked. however, some people sometimes take advantage of this moment to deceive others. You should have realized that too. nowadays, there is very much use of crypto in the real world. some countries even use it as an alternative to their fiat.

smyslov

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

So many coins are now speculative or based on hype because of these meme coins hype started by Elon Musk, there are a lot of people still investing in meme coins and many developers creating in the hope that they will get pumped and hype and they are promoted as the next Doge or Shib you will get burn if you keep looking on these kinds of coins, I considered these coins high risk because they have zero usability.

traderethereum

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Crypto has not become something that can have much help in real life but some cities that have accepted crypto already can use crypto as a means of payment to try different experiences in payment systems.
But in some other cities that don't have it all, people only use crypto as an investment tool that can benefit them in the future.
But they are aware that investing in crypto has a high risk because the price can change at any time and makes them have to be careful in their actions.

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real-life use case is far from crypto,

It seems both are still around here. Where crypto is speculative and also there are still many hypes going on in the crypto world. Moreover, if there is something big happening currently, there will be always the hype points that are increasing. And this becomes the way for scammers to make the chance to scam people and pull the money.
And mostly, many people are still scammed even with similar cases or even different ones.

But actualy not all crypto projects are hype and specualtive. there are still some that actually really have good fundamentals and also utility, but sometimes, they are covered by the hype projects that are more booming because of the advertisement, infleuncer, and also other factors.

adzino

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Crypto currencies were never just a speculative currency or "just a hype". Maybe some are (most of the shitcoins actually), but not the ones that are trending, currently in the top. Yes, crypto currencies do have utilities. It is still on their infant stage and much development are needed to make things more perfect.

Quote from: Reid on March 03, 2022, 09:18:31 AM

Is it crypto which is the problem or is it human? Stable coins was created and those can be used by merchants if they want although I don't recommend it for personal reasons. But it is there. It's 1:1. So they won't have any problem with volatility but we don't see much merchants who post signs of "USDT accepted here". In my experience, I haven't seen one.
So, I have a feeling it's not crypto that is the problem but the courage to use it despite the volatility.

Most stable coins are centralized and your wallets can be frozen. It is not "1:1" pegged like they make you believe. Better to pay with fiat currency that to use those centralized currency, right?

Doell

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

You must be see el-salvador, real use that's is happening. Accept crypto as a means of payment in a number of european regions also it happens and exists, not just speculation and hype. See also NFT and see the history of the project in ICO in real use it has a lot of game development infrastructure and others, can't be explained in too much detail.

CaVO32

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Quote from: JeffBrad12 on March 03, 2022, 06:06:05 PM

Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or

It's speculative but it's not only just a speculative asset and it's more than it.

Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

What do you mean by old? So what's real-life use case what are you looking for? You can use crypto to buy a tank to be used in your real life. You can buy a plane using crypto as well or even buy a train if you want. What you are talking about was totally a nonsense thing. Crypto can be useful in digital or real-life depending on what use case you are looking for. If you wanna buy some toilet papers and just sold some crypto and then you will get it.
Why are you always wanna seeing the real use case while people have been using crypto for various things in their life like funding your life with crypto?

Crypto has been existing now not only because of hype but some of them have actual usage in the market. Businesses are using some of these networks within their financial system already, aside from the top choice which is still bitcoin, because of its popularity. Though crypto still remain to have the speculative factor in it, but it already evolves to something more than being a speculative asset. Just look at how many merchants or shops that are already accepting crypto in their payment system? There may be he hype but it is mostly true in new category of projects like the meme and defi.

JeffBrad12

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or

It's speculative but it's not only just a speculative asset and it's more than it.

Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

What do you mean by old? So what's real-life use case what are you looking for? You can use crypto to buy a tank to be used in your real life. You can buy a plane using crypto as well or even buy a train if you want. What you are talking about was totally a nonsense thing. Crypto can be useful in digital or real-life depending on what use case you are looking for. If you wanna buy some toilet papers and just sold some crypto and then you will get it.
Why are you always wanna seeing the real use case while people have been using crypto for various things in their life like funding your life with crypto?

Captain Corporate

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Why do people insist that a "usecase" or "utility" couldn't be just purely digital. Like for example DeFi is purely digital, and you do not use UNI or Cake to buy something and all, those are just regular tokens. However defi allows people to trade without needing a central exchange and while the people who trade still pay a fee, this time it doesn't go to exchanges but go to regular people like you and me who stake that token. Which is why that is a utility, it actually means something and everyone makes money there and there is a reason for it to exist without using it on real life. So do not look for reasons to use something in real life alone, if that happens then thats great but if not then it can be used in crypto world as well.

isaac_clarke22

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Quote from: trendcoin on March 03, 2022, 04:15:18 PM

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Well El Salvador news was one hell of an adoption of crypto especially Bitcoin. There are some authorities that are still neutral to it and pretty much they're not "fully" against it, but are looking for ways to regulate it therefore putting a tax into it as well which sucks for some.
This pandemic somehow made some think about crypto but it was the exact time when NFTs were now a thing.

trendcoin

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We need radical changes for cryptocurrencies to be used in real life (It's not an easy thing). There are two ways for this to happen. Authorities will impose this change through laws or compelling natural needs will push people to this change. Governments/authorities are not positive towards cryptocurrencies (except El Salvador). Therefore, imperative natural needs can be decisive. For example, the Pandemic restricted the use of paper and coins (risk of contamination). For example, global inflation limited the trend towards fiat currencies. Mandatory natural needs will eventually push people to use cryptocurrencies. We just need some time. Remember, we are early cryptocurrency adopters.

ije07

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Crypto is currently just an asset for commodities, but there are some crypto projects that we can actually use in our lives and can be a substitute for currency for payments, but all this is only true in some countries that allow Crypto as a means of payment, so we better follow current what is happening in crypto so it doesn't interfere with our real life.

livingfree

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto

Ever since.

Crypto has always been a speculative asset and that's why everyone gives their own analysis and prediction on how it will look like in the future especially for the specific cryptocurrencies.

The real use case should be it's applicable as a payment or what has been said on its whitepaper.

Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

we want it to happen for real but it's really not happening, what is stopping this from happening already.

It is happening but not for all the cryptos. You look at the top in the market and most of them are being used as is.

Zotak337

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Year's ago 60% of the world don't give a f*** about Bitcoin existence until things started changing gradually to me bitcoin has died several times already and still standing strong we don't need to rush everything out.

isaac_clarke22

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

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People are just running out of ideas right now and they're basically doing the same thing all over again. It doesn't happen just in crypto to be honest. I would be a little bit off topic in this example but look around your area if the local fast foods or even coffee shop are uniquely different from each other.
In my experience, they're still all the same with just a different logo and name. Same goes with the project these days, and worse is that some are even copy-pasting WPs of other projects.

clarkt

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I believe cryptocurrency is been adopted gradually. Bitcoin is one of the most trusted payment platform across the globe. Even in some very tough regime, bitcoin have been able to surpass restriction and ban! Ethereum is another altcoin with massive defi users and defi has been very successful on ethereum with blue chip ethereum token like Aaeve, compound etc! So, the question of real life use has been very much answered!

mindrust

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

The answer of this question changes for everybody tbh. If you use crypto only to buy & sell, then its a speculative asset for YOU. If you have a business that accepts crypto payments, then it is solving a real life problem for you business. Most people use it as a speculative asset and that's true but there are also some people built their businesses completely on crypto. Right now the Russians are probably benefiting from crypto a lot since no international banks are serving them anymore.

StarKay

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Quote from: 7deadlyBTCIN on March 03, 2022, 08:53:45 AM

Is crypto now more than a speculative asset or just the same old thing based on hypes only because it seems like real life use case is far from crypto, we want it to happen for real but it's really not happening, what is stopping this from happening already.

Cryptocurrency for now is mostly speculative because most coins and tokens don't have real life use case but we're getting into a transition period with game based tokens and well funded crypto project that are gradually having real life use case. I still consider cryptocurrency as being in its early stages.

kentrolla

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It's the fluctuations stopping users to adopt crypto for real life purpose, due to volatility either the sender will regret if the value increases while the transaction is processing or just after the transaction or the receiver will be in loss of the value dumps once it's received or before he/she could convert it into stable coin. There is an Altcoin named Utrust who claimed to convert the payment and transfer it to receiver's bank account in their fiat for transaction made through crypto but the project didn't get the desired result and if they are succesful in doing that in future or if any other altcoins or new projects provides this feature then this issue will be resolved to an extend but they might have to go through regulators.

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